https://www.taxtmi.com/caselaws?id=313529 ITAT Mumbai upheld CIT(A)'s deletion of addition made for bogus purchases from five suppliers declared suspicious by Sales Tax Department. AO disallowed purchases claiming suppliers were non-genuine as they hadn't paid VAT. CIT(A) found AO failed to provide supporting materials to assessee, couldn't substantiate cash kickback allegations despite banking channel payments, and noted doubled GP rate indicating no income understatement. Assessee produced complete documentation including invoices, stock records, VAT numbers, ledger accounts, and bank statements with no defects found. Revenue appeal dismissed. en-us Fri, 23 Mar 2018 00:00:00 +0530 Fri, 19 Apr 2024 21:06:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313529 ITAT Mumbai upheld CIT(A)'s deletion of addition made for bogus purchases from five suppliers declared suspicious by Sales Tax Department. AO disallowed purchases claiming suppliers were non-genuine as they hadn't paid VAT. CIT(A) found AO failed to provide supporting materials to assessee, couldn't substantiate cash kickback allegations despite banking channel payments, and noted doubled GP rate indicating no income understatement. Assessee produced complete documentation including invoices, stock records, VAT numbers, ledger accounts, and bank statements with no defects found. Revenue appeal dismissed. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313529